Location of Thing Trends and Forecast
The future of the global location of thing market looks promising with opportunities in the BFSI, defense, government & public utility, healthcare & life sciences, industrial manufacturing, media & entertainment, retail & e-commerce, and transportation & logistic markets. The global location of thing market is expected to reach an estimated $64.5 billion by 2031 with a CAGR of 20.1% from 2025 to 2031. The major drivers for this market are increasing demand for real-time visibility and tracking, rising penetration of IoT and connected device technologies, and high use of location-based applications across different industry verticals.
• Lucintel forecasts that, within the application category, mapping & navigation is expected to witness the highest growth over the forecast period as LOT enables users to monitor the movement of all sorts of objects.
• Within the end use category, transportation & logistics will remain the largest segment due to evolvement in sensor technology, network communication and positioning techniques.
• In terms of regions, North America will remain the largest region over the forecast period due to technological advancement and growing increased use of mobile phones and improved network connectivity in the region.
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Emerging Trends in the Location of Thing Market
The location of thing market has been revolutionized by a couple of trends that are fueled by technology and changes in market needs.
• Integration with AI and Machine Learning: As advanced technologies, AI and machine learning are playing a bigger part in LoT systems, determining more accurate locations and predicting better outcomes. These technologies aid in faster and smarter decisions, effectively improving the provision of location-based services.
• Growth of Smart Cities: One of the driving forces behind most of the adoption of LoT technologies has been the advent of smart city initiatives. These solutions facilitate better management of urban infrastructure, traffic, and public safety with real-time data and advanced analytical tools.
• Advancements in IoT Technologies: The more people acquire IoT devices, the more LoT applications will be created. Improved connectivity and enhancement of sensor technologies allow real-time tracking, monitoring, and managing assets for different industries.
• Increased Use of GPS and RFID Technology: Enhanced GPS and RFID technologies are contributing to technological advancements that improve location tracking consistency. These improvements are particularly beneficial in logistics, supply chain management, and asset tracking.
• Emphasis on Data Protection: As the use of location data increases, concerns over data protection and privacy measures are also on the rise. It is necessary for robust encryption and other measures to protect data to be adhered to so as to ensure the retention of trust and compliance.
These trends are changing the shape of the location of thing market by improving technology deployment, expanding application fields, and solving the issue of security deployment. Of course, in smart cities and IoT, large growth areas are creating real advances in the field.
Recent Developments in the Location of Thing Market
Changes in the location of thing market are driven by technological developments, and more industry sectors are embracing the technology.
• Use of AI and Machine Learning: The phenomenon has increased the accuracy and predictive location features of LoT systems through the incorporation of AI and machine learning. This evolution facilitates more intelligent decision-making and more efficient operations.
• Smart City Initiatives: Several cities have commenced the deployment of LoT applications for smart city purposes. Such undertakings provide for the improvement of city infrastructure management, traffic management, and delivery of services using real-time location data.
• IoT Expansion: The growing use of IoT devices is affecting the growth of LoT applications. New sensor technologies and connectivity options allow real-time tracking and monitoring, which increases the scope of potential applications.
• GPS and RFID Innovations: Developments in GPS, and also in RFID technologies, improve location accuracy and reliability. These advancements in terms of technology are important for logistics, supply chains, as well as asset tracking sectors.
• Data Security Enhancements: The tendency of enhancing data security and privacy in LoT systems is increasing. Adding user-friendly privacy features and related technologies like more effective location data encryption is becoming the norm for protecting such sensitive data.
Many of these developments are boosting the location of thing market by improving technological capabilities, increasing existing applications, and solving security issues. Growth and effectiveness in the provision of location-based services are driven by advancements in AI, smart cities, IoT, and data security techniques.
Strategic Growth Opportunities in the Location of Thing Market
The location of thing market offers many strategic growth opportunities in terms of application across various subsegments of the market.
• Smart City Solutions: Investing in LoT solutions for smart city applications allows for better utilization of city assets, monitoring and controlling urban traffic, and improving service delivery in cities using real-time data and analytics.
• Supply Chain Optimization: The use of LoT technologies has tremendous potential, especially when it comes to improving the supply chain. Household items being coordinated are tracked, making work more efficient, cost-saving, and improving visibility.
• Healthcare Monitoring: Tracking and monitoring patients using LoT has been praised in the growing healthcare market. When location-based information is utilized in the healthcare sector, it promotes patient safety and facilitates operations.
• Precision Agriculture: The use of LoT in agriculture results in precision farming, which is the most economical way to use other factors and produce the maximum amount of crops. This application promotes the efficiency of farming practices.
• Disaster Management: Creating LoT systems aimed at disaster management and emergency rescue makes it possible to cut down on coordination challenges and reduce the time needed to respond to a disaster. Today, location information is a prerequisite for managing disasters.
With these growth opportunities, industries impacted by location of thing technologies—such as urban management, supply chain management, healthcare, agriculture, and disaster management—can transform for the better. Sectors focusing on these areas will experience market growth and innovation.
Location of Thing Market Driver and Challenges
The location of thing market is shaped by drivers that are technical, economic, or regulatory in nature, as well as its character and adoption rate. These drivers and challenges shape the market dynamics and impact growth and adoption.
Factors responsible for driving the location of the thing market include:
• Technological Integrations: Improvements in GPS, RFID, and IoT technologies lead to the emergence of robust LoT systems. They also improve location tracking and data management.
• Smart City Trends: The quest for smart cities is necessitating the development of sophisticated LoT systems. Such solutions are crucial for urban management, traffic management, and public service provision.
• Expansion of Internet of Things: The increase in the usage of IoT devices is extending the application area of LoT. Better connectivity and sensor technologies enable real-time tracking and monitoring in various industries.
• Growing Necessity for Locational Data: Businesses and governments are demanding real-time location data for operational purposes and decision-making. This demand is fueling investments and developments in LoT technologies.
• Strategic Focus on Cost Constraints: Companies are adopting LoT to enhance efficiency and control costs. Better management of assets, optimization of supply chains, and process improvements are supported by real-time location information.
Challenges in the location of thing market are:
• Concerns Over Privacy and Data Protection: The use of location data raises security and privacy risks. A challenge is providing strong data protection measures and ensuring legal compliance.
• Expensive Implementation: Adopting advanced LoT solutions can be costly, making it impractical for certain organizations. This challenge affects the rate of adoption and market growth.
• Integration with Existing Systems: New LoT technologies continue to incorporate new capabilities and resources, which depend on the existing architecture. This can be complex and resource-consuming. Iterative and gradual processes must be adopted in every step of the deployment phase.
The key factors influencing the location of thing market are improvements in technology, the building of smart cities, the proliferation of the Internet of Things, and the desire for real-time information. There are difficulties regarding data safety, expenses, and integration, which hinder the growth and acceptance of the market.
List of Location of Thing Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. Through these strategies location of thing companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the location of thing companies profiled in this report include-
• HERE
• Google
• IBM
• Microsoft
• ESRI
• Qualcomm Technologies
• Wireless Logic
Location of Thing by Segment
The study includes a forecast for the global location of thing by location type, application, end use, and region.
Location of Thing Market by Location Type [Analysis by Value from 2019 to 2031]:
• Indoor Location
• Outdoor Location
Location of Thing Market by Application [Analysis by Value from 2019 to 2031]:
• Mapping & Navigation
• Asset Management
• Location Intelligence
• Media & Marketing Engagement
• Others
Location of Thing Market by End Use [Analysis by Value from 2019 to 2031]:
• BFSI
• Defense
• Government & Public Utilities
• Healthcare & Life Sciences
• Media & Entertainment
• Retail & E-Commerce
• Others
Location of Thing Market by Region [Analysis by Value from 2019 to 2031]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
Country Wise Outlook for the Location of Thing Market
The location of thing market is ushering in a new trend due to technological advancements and the growing acceptance of technology in all sectors. The development of IoT, GPS, and RFID technologies is making IoT more efficient and enlarging how users are able to interact with location-based services, increasing the efficiency of LoT devices.
• United States: In the USA, it is possible to incorporate AI and machine learning into LoT systems, making predictive analytics and location relevance better. Smart cities and the development of autonomous vehicles, among other projects, change the quality of urban development and the efficiency of transport systems to a great extent.
• China: In China, the focus is on the use of LoT technologies related to smart cities and infrastructure monitoring. E-commerce requires fast delivery, which is where extensive GPS and RFID come in to help track product orders in real time and manage the processes.
• Germany: Germany is implementing LoT in agriculture and industrial automation. Advanced sensor technologies and rapid analysis of the collected data have transformed farming and industrial processes that are now fast, efficient, and less resource-consuming.
• India: The LoT landscape in India is witnessing growth with an emphasis on smart city projects and mobile integration. This is mainly due to the growing need for enhanced public safety, improved traffic management, and advanced location-based visibility across urban and rural geographies.
• Japan: Japan is moving ahead with the application of LoT for disaster management and smart transportation. In this regard, the country is creating advanced emergency response tracking systems as well as public transport tracking systems, which increase resilience and efficiency in these sectors.
Features of the Global Location of Thing Market
Market Size Estimates: Location of thing market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2019 to 2024) and forecast (2025 to 2031) by various segments and regions.
Segmentation Analysis: Location of thing market size by location type, application, end use, and region in terms of value ($B).
Regional Analysis: Location of thing market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different location types, applications, end uses, and regions for the location of thing market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the location of thing market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
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FAQ
Q1. What is the location of thing market size?
Answer: The global location of thing market is expected to reach an estimated $64.5 billion by 2031.
Q2. What is the growth forecast for location of thing market?
Answer: The global location of thing market is expected to grow with a CAGR of 20.1% from 2025 to 2031.
Q3. What are the major drivers influencing the growth of the location of thing market?
Answer: The major drivers for this market are increasing demand for real-time visibility and tracking, rising penetration of IoT and connected device technologies, and high use of location-based applications across different industry verticals.
Q4. What are the major segments for location of thing market?
Answer: The future of the location of thing market looks promising with opportunities in the BFSI, defense, government & public utility, healthcare & life sciences, industrial manufacturing, media & entertainment, retail & e-commerce, and transportation & logistic markets.
Q5. Who are the key location of thing market companies?
Answer: Some of the key location of thing companies are as follows:
• HERE
• Google
• IBM
• Microsoft
• ESRI
• Qualcomm Technologies
• Wireless Logic
Q6. Which location of thing market segment will be the largest in future?
Answer: Lucintel forecasts that mapping & navigation is expected to witness the highest growth over the forecast period as LOT enables users to monitor the movement of all sorts of objects.
Q7. In location of thing market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region over the forecast period due to technological advancement and growing increased use of mobile phones and improved network connectivity in the region.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the location of thing market by location type (indoor location and outdoor location), application (mapping & navigation, asset management, location intelligence, media & marketing engagement, and others), end use (BFSI, defense, government & public utilities, healthcare & life sciences, media & entertainment, retail & e-commerce, transportation & logistics, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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